Main Street Capital formally announced its expected second “supplemental” distribution, capping out a 5th year of an increasing pay-out. The BDC Reporter, though, worries that the popular BDC’s distribution streak might be in jeopardy, as we explain in great detail.
We alert readers to several credit developments affecting multiple BDCs that we’ve covered in our sister publication, the BDC Credit Reporter, and discuss some lessons learned.
The broad market indices bobbed around in the week and the BDC sector followed suit. We discuss two BDCs that did well, and four that did not and project out how the rest of the year is likely to play out.
Once again, the BDC Reporter summarizes some of the key developments lifted from the BDC Credit Reporter.
Here are some of the latest developments amongst under-performing BDC companies since our last report filed April 22, 2019
From a price standpoint, only a small move in BDC Fixed Income prices in this shortened week. However, Main Street’s new unsecured debt was an important development in a much larger liability management and earnings story.
Highlights from the last two days of BDC portfolio company news, and the possible impact on the multiple BDCs involved.
A well known retailer decides to liquidate. Three BDCs will be taking further credit hits as a result and major realized losses when the process is completed.
Moody’s has named the 17 top candidates amongst retail names to file bankruptcy in 2019. The BDC Reporter analyzes how BDC lenders might fare if the worst comes to pass.
Main Street publishes a few key preliminary numbers for 2018. We ask some hard questions about the future.
The famously stable BDC Fixed Income market seems a little anemic. However, that’s nothing compared to what may happen as BDCs position themselves around the Small Business Credit Availability Act.
Another good week for the BDC Sector and most of its constituents, as the rally marches on. We discuss myriad metrics and look at the length of the runway.
S&P speaks up about the new BDC leverage rules, expressing concern. Will the credit raters keep BDCs from borrowing to the hilt. If not the rating groups, then who ? We discuss the options and look into a glass. Darkly.
Rates go down, BDC Fixed Income goes nowhere. However, the new leverage rules already have two prospective issuer candidates, which raises questions about what happens next.
The BDC Sector had a decent week and good month, especially when compared with the major indices. Are BDC stocks headed for a rally after a year in the doldrums ?
